UK - LDC backs £20m buyout of ANSA and Independent Inspection

LDC is investing £11.6m into the new company, while the management team, led by chief executive Steve Watkins, has also invested for a stake in the business. The deal is being supported with a £10.6m package of senior debt and working capital facilities from Yorkshire Bank.

Oldham-based ANSA and Independent Inspection Holdings, based in Preston, are providers of claims validation, management and fulfilment services for UK insurance companies. Customers include Direct Line, Norwich Union, Legal & General and Zurich Financial Services.

The transaction is subject to Mavinwood's shareholder approval. Subject to completion, investment director at LDC, Jonathan Bell, will hold a seat on the newco's board.

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• Buyouts
• UK / Ireland